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Performant Introduces Performant Healthcare Solutions as New Trade Name
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
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Rhea-AI Summary
Performant Financial Corporation (NASDAQ: PFMT) has announced a new dba name, Performant Healthcare Solutions, reflecting its focus on the healthcare industry, which constitutes the majority of its revenue and strategic growth initiatives. This rebranding will not affect the company's ticker symbol or corporate structure. President Simeon Kohl emphasized the company's historical engagement in healthcare since 2005, citing the importance of this sector in their future direction and growth. For more details, visit www.performanthealth.com.
Positive
New dba name aligns with company's focus on the healthcare sector.
Healthcare accounts for the majority of reported revenues.
Strategic growth initiatives are fully directed towards healthcare.
Negative
None.
LIVERMORE, Calif.--(BUSINESS WIRE)--
Performant Financial Corporation (Nasdaq: PFMT) (“the Company”, “Performant”), a leading provider of technology-enabled payment integrity, eligibility, and related analytics services, today announced a new dba name, Performant Healthcare Solutions, which the Company will begin using immediately. There will be no changes to the Company’s ticker symbol nor to its corporate structure following this change.
“Historically speaking, healthcare has been a part of our DNA since 2005 when we first engaged with the Centers for Medicare and Medicaid on a demonstration program to determine if the RAC program could be effectively used to identify improper payments for claims paid under Medicare Part A and Part B,” stated President, Simeon Kohl. “Today, healthcare accounts for the majority of our reported revenues and 100% of the Company’s strategic growth initiatives. Our decision to place our full attention and focus on the healthcare industry leaves no doubt as to our future direction. We are excited about this next chapter in Performant’s evolution and look forward to updating you with our continued progress.”
To learn more about Performant Healthcare Solutions please visit our website, www.performanthealth.com.
ABOUT PERFORMANT HEALTHCARE SOLUTIONS
Performant Healthcare Solutions is a leading provider of technology-enabled audit, recovery, and analytics services in the United States with a focus in the healthcare payment integrity industry. Performant works with healthcare payers through claims auditing and eligibility-based (also known as coordination-of-benefits) services to identify improper payments. The Company engages clients in both government and commercial markets. The Company also has a call center which serves clients with complex consumer engagement needs. Clients of the Company typically operate in complex and highly regulated environments and contract for their payment integrity needs in order to reduce losses on improper healthcare payments.
Powered by a proprietary analytic platform and workflow technology, Performant also provides professional services related to the recovery effort, including reporting capabilities, support services, customer care and stakeholder training programs meant to mitigate future instances of improper payments. Founded in 1976, Performant is headquartered in Livermore, California.
